Goldman Sachs Group Inc. Increases Stake in Triangle Capital Corporation (TCAP)
Goldman Sachs Group Inc. raised its stake in Triangle Capital Corporation (NYSE:TCAP) by 154.0% during the first quarter, Holdings Channel reports. The firm owned 69,597 shares of the credit services provider’s stock after buying an additional 42,192 shares during the period. Goldman Sachs Group Inc.’s holdings in Triangle Capital Corporation were worth $1,329,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of TCAP. Muzinich & Co. Inc. increased its position in Triangle Capital Corporation by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,788,633 shares of the credit services provider’s stock valued at $34,145,000 after buying an additional 873,912 shares during the period. Yorktown Management & Research Co Inc acquired a new position in Triangle Capital Corporation during the first quarter valued at approximately $5,345,000. UBS Group AG increased its position in Triangle Capital Corporation by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock valued at $15,872,000 after buying an additional 268,535 shares during the period. Wells Fargo & Company MN increased its position in Triangle Capital Corporation by 19.2% in the first quarter. Wells Fargo & Company MN now owns 1,378,214 shares of the credit services provider’s stock valued at $26,310,000 after buying an additional 221,823 shares during the period. Finally, Bank of America Corp DE increased its position in Triangle Capital Corporation by 567.9% in the first quarter. Bank of America Corp DE now owns 169,483 shares of the credit services provider’s stock valued at $3,236,000 after buying an additional 144,106 shares during the period. Institutional investors and hedge funds own 31.86% of the company’s stock.
Triangle Capital Corporation (NYSE:TCAP) traded down 0.87% during midday trading on Thursday, hitting $13.74. 145,019 shares of the stock traded hands. The company’s 50-day moving average is $17.10 and its 200-day moving average is $18.31. Triangle Capital Corporation has a one year low of $13.62 and a one year high of $20.35. The company has a market cap of $656.02 million, a PE ratio of 28.57 and a beta of 0.90.
Triangle Capital Corporation (NYSE:TCAP) last posted its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. The company had revenue of $31.20 million for the quarter, compared to the consensus estimate of $33.25 million. During the same quarter last year, the company earned $0.49 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Triangle Capital Corporation will post $1.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 12.99%. Triangle Capital Corporation’s dividend payout ratio (DPR) is 346.16%.
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TCAP has been the subject of several research reports. ValuEngine downgraded shares of Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Aegis initiated coverage on shares of Triangle Capital Corporation in a research note on Monday, June 26th. They issued a “buy” rating for the company. Jefferies Group LLC restated a “buy” rating and issued a $18.00 price target (down previously from $23.00) on shares of Triangle Capital Corporation in a research note on Wednesday. Hilliard Lyons upgraded shares of Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Monday, June 26th. Finally, Wunderlich initiated coverage on shares of Triangle Capital Corporation in a research note on Wednesday, May 17th. They issued a “buy” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.75.
In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total transaction of $53,160.00. Following the transaction, the insider now directly owns 75,716 shares in the company, valued at approximately $1,341,687.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.
About Triangle Capital Corporation
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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